US Consumer Spending Is Increasingly Driven by Richer Households

Oct 11, 2024 | Markets

Spending by low earners jumped with pandemic aid, then slowed Wealth effect of asset boom boosts top-end spending: Fed study The consumers powering US economic growth are increasingly those who are higher up the income ladder, and likely enjoying a wealth effect from...

Defense, Space Firms Partner on Orbital Craft for National Security Missions

Oct 11, 2024 | Markets

Impulse Space started by SpaceX employee no. 1 Tom Mueller Anduril founded by Oculus VR headset designer Palmer Luckey Venture-backed Impulse Space Inc. and weapons maker Anduril Industries Inc. are developing a supercharged spy vehicle capable of carrying out...

BlackRock Hits $11.5 Trillion With Push into Private Markets

Oct 11, 2024 | Markets, Private Markets

Total net flows hit record $221 billion last quarter Flows into fixed-income and private funds boosted performance BlackRock Inc. pulled in a record $221 billion of total client cash last quarter, pushing the world’s largest money manager to an all-time high of $11.5...

US Consumer Sentiment Unexpectedly Falls on High Cost of Living

Oct 11, 2024 | Markets

University of Michigan sentiment index at 68.9 after 70.1 Short-term inflation views rose to 2.9% in early October US consumer sentiment unexpectedly fell for the first time in three months as lingering frustration with a high cost of living offset more sanguine views...

Chinese Stocks Cap Worst Week Since July Before MOF Briefing

Oct 11, 2024 | Markets

China will deploy up to 2 trillion yuan fresh stimulus: survey Market expectation on stimulus ‘has run high’: William Blair Chinese stocks fell as investors were seen reducing risk before the Ministry of Finance holds a policy briefing on Saturday, where it may add...